By Henry E. Hildebrand, III Chapter 13 Trustee (Nashville, TN)
Although a secured creditor with a purchase money security interest in personal property is entitled to adequate protection payments under § 1326(a)(1), the trustee is not obligated to make the payments without a motion, hearing, or court order. (Gorman) In re Housley, 2018 WL 1005285 (Bankr. C.D. Ill. February 21, 2018)
Case Summary
Jennifer Housley filed a Chapter 13 petition in December of 2017. Her plan proposed to pay Ideal Auto Sales, a secured creditor, $12,400 at 6.25% interest with estimated monthly . . .
It looks like you are not signed in or registered! This content is only available to members.
Or Sign In Below:
No Author Biography has been linked to this Article.
By David Cox,1 Cox Law Group, PLLC (Lynchburg, VA) III. Providing for the Secured Mortgage Claim, as Modified. A. Does the requirement of § 1325(a)(5)(B)(iii) for equal monthly payments permit the Debtor to propose a balloon payment in the payment of the creditor’s claim? Equal Monthly Payments Required By § 1325(a)(5)(B)(iii) Does NOT Permit Debtor To Propose A Balloon Payment....
"Finality" in Bankruptcy When is an order within a bankruptcy case "final"? When must a party to the proceeding appeal within 14 days? When may a party either seek interlocutory review or sit back and wait until something more occurs to make the order final? Final orders are appealable. In civil actions, this is a relatively easy proposition to apply...
On June 26, 2017, Bradford W. Caraway was appointed as the Chapter 13 Standing Trustee for the Northern District of Alabama, Southern Division. He replaced D. Sims Crawford who had been appointed as a United States Bankruptcy Judge for the Northern District of Alabama. Trustee Caraway maintains his office in Birmingham. At the time of his appointment as Standing Trustee,...
By Jan Sensenich, Chapter 13 Standing Trustee for the District of Vermont I think it was in junior high school when I first started wearing glasses. I remember not liking the idea of having to wear glasses. I thought I could see just fine. As far as I knew, I was seeing what I needed to see. But I also...
By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) Introduction In In re Fulton,1 the Seventh Circuit has restated its position on passive violation of the automatic stay, holding that failure by the City of Chicago to turn over impounded vehicles after the owners' bankruptcy filings violated Bankruptcy Code sections 362 and 542. Fulton – Background and Ruling The...
By John P. Gustafson, United States Bankruptcy Judge, Northern District of Ohio, Western Division (Toledo, OH) Click here for Part 1 of 6 Click here for Part 3 of 6 Click here for Part 4 of 6 Click here for Part 5 of 6 Click here for Part 6 . . . It looks like you are not signed in...
By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) PART VI – CONSUMER FORECLOSURE PROCEDURES (CONCLUSION) Introduction In the consumer bankruptcy field, trustees and debtors' counsel often are uncomfortable with the rules in Article 9 of the Uniform Commercial Code (UCC). In this series for the NACTT Academy, we have looked at numerous topics involving the interplay of Article...
Larry Ahern this week begins a two-part examination of whether a Chapter 13 trustee may retain fees paid without a confirmed plan before dismissal. Part 1 is a detailed analysis of McCallister v. Evans, a recent case accepting the trustee's position considering a division in the caselaw and analyzing in detail the relevant statutes. May the Chapter 13 Trustee Keep...
By The Honorable William Houston Brown (Retired) Plan did not properly address 910 creditor’s liens. Finding that the plan did not satisfy one of the three options for addressing a secured claim under § 1325(a)(5), specifically failing to provide for the 910 creditor’s retention of lien, the Panel observed that in response to the creditor’s objection to confirmation, the debtors...
By Henry E. Hildebrand, III, Chapter 13 Standing Trustee for the Middle District of TN (Nashville) The automatic stay does not require a creditor pursuing a prepetition nonbankruptcy court action to dismiss that action once a bankruptcy case is filed; requesting continuances and attending status conferences do not constitute “continuation” of the prepetition action for purposes of the automatic stay....
Critical Case Comment
Print This Article
Link to Post:
By Henry E. Hildebrand, III Chapter 13 Trustee (Nashville, TN)
Although a secured creditor with a purchase money security interest in personal property is entitled to adequate protection payments under § 1326(a)(1), the trustee is not obligated to make the payments without a motion, hearing, or court order. (Gorman) In re Housley, 2018 WL 1005285 (Bankr. C.D. Ill. February 21, 2018)
Case Summary
Jennifer Housley filed a Chapter 13 petition in December of 2017. Her plan proposed to pay Ideal Auto Sales, a secured creditor, $12,400 at 6.25% interest with estimated monthly . . .
It looks like you are not signed in or registered! This content is only available to members.
Or Sign In Below:
Related Articles
Negotiating Plan Confirmation with Secured Creditors – Issues Involving Balloon Payments and Other Mortgage Loans Subject to Modification Under § 1322(c) – Part 3
Can Good Facts Also Make Bad Law? Finality of Orders in Bankruptcy Revisited after Ritzen Group
Meet an AO Trustee
2020 Vision
In re Fulton: Seventh Circuit Affirms Its Position with Majority of Circuits on Passive Retention of Property as Violation of Sections 362 and 542
Avoidance Powers In Chapter 13 – Part 2 of 6
Creditors’ Rights and Debtors’ Protections at the Intersection of Consumer Bankruptcy and UCC Article 9
May the Chapter 13 Trustee Keep Fees Paid Before Dismissal?
From the Editor – Confirmation
Critical Case Comment – Creditor Not Required to Dismiss Prepetition Nonbankruptcy Action